Bitcoin rises to more than USD66K, hitting monthly high
Date
7/22/2024 3:30:33 AM
(MENAFN) In an impressive rally, Bitcoin prices surged at the end of the week, culminating on Friday, July 19. The cryptocurrency reached its highest levels in more than a month, surpassing the USD66,000 mark. Specifically, Bitcoin saw a significant rise of 5 percent over Thursday and Friday, peaking at USD66,700. This remarkable performance contributed to a more than 14 percent increase over the past week, as per CoinMarketCap data. Consequently, the market capitalization of Bitcoin's circulating supply soared past USD1.3 trillion, underlining the robust demand and investor confidence in the digital asset.
The cryptocurrency's recent surge is also attributed to the prevailing political climate in the United States. With the anticipation that Donald Trump's potential second term in the White House might prove advantageous for the cryptocurrency sector, Bitcoin has notably benefited. This optimism is fueled by Democratic candidate Joe Biden's lackluster campaign efforts to date, coupled with the dramatic events of July 13, when there was an assassination attempt on Republican candidate Trump. These developments have collectively bolstered investor sentiment towards Bitcoin, driving its price upward.
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